The Parliament's Budget Session continued on February 8, 2026, with the Lok Sabha conducting general discussion on the Union Budget 2026-27. The session, which began on February 1 with the President's address, has allocated a total of 18 hours for the Budget discussion spread across February 5 to 11, 2026. The Finance Minister is scheduled to reply to the Budget debate on February 11.

A major point of contention during the day's proceedings was the recently announced India-US Interim Trade Agreement, which came into effect on February 5, reducing the US reciprocal tariff on Indian goods from 25% to 18%. Opposition members, particularly from the Congress party, questioned whether the customs duty cuts agreed to by India constituted unilateral concessions that would adversely affect domestic manufacturing sectors, including electronics, pharmaceuticals, and agricultural goods.

Congress MPs argued that India gave away more than it received in the interim deal, expressing concern over the potential flooding of American goods in Indian markets post-tariff reduction. The government benches countered that the agreement secures market access for Indian exporters and prevents escalation of trade tensions during a volatile global trade environment triggered by US tariff policies.

The procedural context is important: Budget sessions under Rule 193 of the Lok Sabha Rules allow any member to raise matters of general public importance without a specific motion. Budget discussion under general debate allows a broad sweep — from fiscal deficit to trade policy to welfare schemes — before clause-by-clause scrutiny begins in Demand for Grants.

For RPSC aspirants, this episode illustrates the legislative scrutiny mechanism for executive trade policy decisions, the role of parliamentary debate in holding the executive accountable, and the interplay between India's foreign economic policy and domestic industrial interests.